What Is NOT True Regarding the Products and Services List

question 12

Multiple Choice

What is NOT true regarding the Products and Services List?

• A)It can be updated either Before entering transactions or While entering transactions.
• B)It collects information about the products or services purchased from vendors.
• C)It links the product item to the accounts in the Chart of Accounts,therefore,when the item is selected in the QBO form,then the linked accounts are automatically updated as well.
• D)It collects information about the products purchased from vendors and sold to customers.

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Definitions:

Registration Statement

A registration statement is a set of documents, including financial information and details about an offering, that a company must file with regulatory bodies (like the SEC in the U.S.) before going public or issuing new securities.

Insider Trading

The purchase or sale of securities on the basis of information that has not been made available to the public.

Inside Information

Confidential information about a company that has not been made public and could influence the market value of its stocks or securities if known.

Unfair Advantage

An advantage gained by a party through dishonest or unethical means, leading to an imbalance in competitive situations.